Stellar Lumens (XLM) has broken out of a bullish flag pattern, signaling a potential surge toward the $1 price level, positioning itself as a formidable competitor to XRP.
The recent price action shows XLM outperforming XRP with a strong weekly gain, reflecting renewed investor confidence and breaking through key resistance levels.
According to crypto analyst Ali Martinez, the flag breakout on the weekly chart is a classic indicator of a sustained upward trend, reinforcing bullish sentiment around Stellar’s future.
Stellar Lumens breaks bullish flag, surges past resistance with strong correlation to XRP, signaling renewed market interest and potential for further gains.
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Stellar Lumens (XLM) has demonstrated remarkable strength by breaking out of a well-defined bullish flag formation, a technical pattern often associated with continuation of an upward trend. This breakout was confirmed by a significant weekly candle—the largest in nearly a year—highlighting a shift in market momentum. Over the past week, XLM surged more than 70%, closing at approximately $0.43 and surpassing multiple resistance levels that had previously constrained its growth since early 2023.
The breakout is particularly notable given the context of broader market dynamics, where many altcoins have struggled to maintain upward momentum. The technical setup, combined with strong volume, suggests that Stellar could be on a trajectory toward the psychologically important $1 mark, a milestone that would represent a substantial appreciation from current levels.
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Source: https://en.coinotag.com/stellar-lumens-xlm-shows-bullish-flag-breakout-potentially-targeting-1-amid-market-recovery/